Boxed Beef movement on daily cutout is light but prices are improving. Beef is being forwarded contracted ahead of the mandatory reporting time. With wide spreads in Live Cattle between August and October, October and December… as markets near October on out unless boxed beef demand continues to gain, look for futures months from October on out to drop as beef buyers have already secured needs.
Lean Hogs came off Thursday’s lows on Friday and moved up to resistance. During July, August Lean hogs were up $2.97, October Hogs up .27 cents, December hogs $1.35.
For the week compared to previous week pork carcass was down 5.22 and up 2.19 from June. Loins over the past week lost 5.22 and for the month were up 78 cents. Hams were down hard from a week ago off 17.79 and compared to a month ago 7.37. Bellies up 1.00 from a week ago and up 12.60 from end of June.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.